August 22, 2007 / 8:40 PM / 10 years ago

Intuit names new CEO, reports quarterly loss

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BOSTON, Aug 22 (Reuters) - Intuit Inc (INTU.O), maker of TurboTax software, named a new chief executive on Wednesday and also posted a loss for its fiscal fourth quarter, which is traditionally its weakest.

Intuit said that CEO Steve Bennett would step down at the end of December and be replaced by Brad Smith, senior vice president and general manager of Intuit's Small Business Division.

The company said it had a fourth-quarter net loss of $13.6 million, or 4 cents per share, compared with a net loss of $18.9 million, or 6 cents, a year ago. Revenue rose 31 percent to $433 million. (Reporting by Jim Finkle)

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